Indian Hospitality Sector has been witnessing considerable signs of recovery since 2016, primarily boosted by a strong economy, increased inflow of business travellers and rising demand for experiential services.

According to the report, a total room requirement of 32,400 additional rooms is projected across the Top Seven Cities by 2022. Of which 44% will be added in the midscale segment and is expected to grow at a CAGR of 12% by 2022.

'Focus: India Hospitality Industry', a comprehensive report released by Meraqi, outlines the performance of hospitality sector across major cities, forecasts demand and analyses the impact of disruptive changes in the market dynamics.

Indian Hospitality Sector has been witnessing considerable signs of recovery since 2016, primarily boosted by a strong economy, increased inflow of business travellers and rising demand for experiential services.

According to the report, a total room requirement of 32,400 additional rooms is projected across the Top Seven Cities by 2022. Of which 44% will be added in the midscale segment and is expected to grow at a CAGR of 12% by 2022.

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Indian Hospitality Sector has been witnessing considerable signs of recovery since 2016, primarily boosted by a strong economy, increased inflow of business travellers and rising demand for experiential services.

Despite Central Government's various attempts to fulfil its vision of 'Housing for All by 2022', the ground reality of Affordable Housing remains a far cry from the hype created around PMAY since 2015, as the number of affordable housing projects launched on Private Developer's Land across India remained negligible.

Housing shortage in urban areas is particularly high in the Economically Weaker Section - shortage of 10 million units*. In the Lower Income Group, it is 7.4 million units*** and the balance - 4%*** in the Middle-Income Group.

India’s maturing residential real estate sector is moving towards product differentiation based on the demographic needs. Fuelled by the changing needs, preferences and purchase motivations of various cohorts, the alternate residential asset class in India is poised to grow exponentially in the coming decade.